The Ganzi geothermal field, located in the eastern sector of the Himalayan geothermal belt, is full of high-temperature surface manifestations. However, the geothermal potential has not been assessed so far. The hydrochemical and gas isotopic characteristics have been investigated in this study to determine the geochemical processes involved in the formation of the geothermal water. On the basis of δ18O and δD values, the geothermal waters originate from snow and glacier melt water. The water chemistry type is dominated by HCO3-Na, which is mainly derived from water-CO2-silicate interactions, as also indicated by the 87Sr/86Sr ratios (0.714098–0.716888). Based on Cl-enthalpy mixing model, the chloride concentration of the deep geothermal fluid is 37 mg/L, which is lower than that of the existing magmatic heat source area. The estimated reservoir temperature ranges from 180–210 °C. Carbon isotope data demonstrate that the CO2 mainly originates from marine limestone metamorphism, with a fraction of 74–86%. The helium isotope ratio is 0.17–0.39 Ra, indicating that the He mainly comes from atmospheric and crustal sources, and no more than 5% comes from a mantle source. According to this evidence, we propose that there is no magmatic heat source below the Ganzi geothermal field, making it a distinctive type of high-temperature geothermal system on the Tibetan Plateau.